Leasing a Property

Contact us! We’ll help you hone in on your budget, location preferences, and timeline. And we deal with much more than just looking online for available properties. We have a network of Landlords and Investors who have properties not officially on the market that can be made available for the right Tenant. Additionally, it is important to have a Solas associate helping you walk through the leasing process and advocate on your behalf.

This is dependent on several factors. However, typically a Landlord will require the first month’s rent to be paid in advance as well as a Security Deposit equal to the last month’s rent.

Improvements and buildout/construction costs needed to make the space ready for your occupancy are negotiable and can often be included (at least in-part) into the lease, but this has to be evaluated on a case by case basis and negotiated directly with the Landlord.

Representation fees are typically paid for by the Landlord. There are some exceptions in rare cases where the Landlord will not pay leasing fees. However, as those few and far between, your Solas leasing advocate will discuss that prior to moving forward. Even if the property is already listed on the market, the listing Broker will split their commission with your Solas advocate.

Absolutely. That means they have an advocate negotiating for them. Every Tenant should always have their own representation. Have a market professional in your corner, working for you to get the best deal and setting you up for success.

Sometimes. This is often dependent upon the type of buildout/improvements needed or desired and the credibility of the Tenant. Typically Landlords of Multi-Tenant Properties, such as office buildings or shopping centers, will offer a Tenant Improvement Allowance (“TI”) to stronger financially qualified tenants or regional/nationally recognized Brands such as franchises. Landlords of stand alone properties and other landlords will often not offer “TI” but will negotiate some free rent (“Rent Abatement”) to offset “TI” costs. Developers of new construction can also usually help with buildout or provide “TI” if you catch them early enough in their construction process, as they can often roll these costs into their construction financing. Additionally, there are other options and strategies that can be discussed with your Solas associate, such as Amortization of all or part of any “TI” needs that you may have into your rent, getting an SBA (“Small Business Administration”) Loan, Etc.

Triple Net refers to the three net costs of Property Taxes, Insurance, and Common Area Maintenance expenses. Retail properties will often charge these costs back to the Tenant as Additional Rent in the lease on top of the Base Rent, Utilities, etc. (CAM costs can even sometimes include Management and Administrative fees, so you will want to want work with your Solas advocate to understand exactly what can be charged back to you as the Tenant). There can also be Single Net and Double Net leases, removing one or more of these expenses.

Most often seen in office towers or complexes, a Full Service Lease is one where the Tenant only pays the Primary Rent, and all other expenses are paid by the Landlord. This includes Property Taxes, Property Insurance, Common Area Maintenance (CAM), Utilities, and often Janitorial Service. The Tenant is still usually responsible for its own communication expenses, such as Telephone and Internet.

Modified Gross is basically a combination of Full Service and a NNN Lease. It can technically be any combination thereof but is typically seen with the Landlord being responsible to pay for the Property Insurance and Property Taxes, and the Tenant agrees pays for Common Area Maintenance and Utilities in addition to the Base Rent.